The Shyft Group, Inc. (NASDAQ:SHYF – Get Rating) – Equities researchers at DA Davidson cut their FY2022 earnings estimates for The Shyft Group in a report released on Monday, August 1st. DA Davidson analyst M. Shlisky now expects that the company will earn $0.98 per share for the year, down from their previous forecast of $1.07. DA Davidson has a “Buy” rating and a $38.00 price objective on the stock. The consensus estimate for The Shyft Group’s current full-year earnings is $0.96 per share. DA Davidson also issued estimates for The Shyft Group’s FY2023 earnings at $2.58 EPS.
Several other analysts have also commented on the stock. Raymond James restated a “maintains” rating on shares of The Shyft Group in a report on Friday, July 29th. TheStreet lowered shares of The Shyft Group from a “b-” rating to a “c+” rating in a report on Tuesday, May 17th.
The Shyft Group Stock Performance
The Shyft Group (NASDAQ:SHYF – Get Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $232.20 million during the quarter, compared to analyst estimates of $223.03 million. The Shyft Group had a net margin of 4.33% and a return on equity of 16.97%. The Shyft Group’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share.
Hedge Funds Weigh In On The Shyft Group
A number of institutional investors and hedge funds have recently made changes to their positions in SHYF. Steward Partners Investment Advisory LLC bought a new position in shares of The Shyft Group during the fourth quarter valued at approximately $36,000. Point72 Hong Kong Ltd increased its position in shares of The Shyft Group by 548.0% during the first quarter. Point72 Hong Kong Ltd now owns 1,756 shares of the company’s stock valued at $63,000 after acquiring an additional 1,485 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of The Shyft Group by 26.2% during the first quarter. Meeder Asset Management Inc. now owns 3,989 shares of the company’s stock valued at $145,000 after acquiring an additional 827 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of The Shyft Group during the second quarter valued at approximately $196,000. Finally, SG Americas Securities LLC bought a new stake in shares of The Shyft Group during the second quarter valued at approximately $203,000. Institutional investors own 81.18% of the company’s stock.
The Shyft Group Company Profile
The Shyft Group, Inc manufactures and assembles specialty vehicles for the commercial vehicle and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment manufactures and sells commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.
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